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Major global ports operator reports higher earnings, throughputs

November 8, 2016

MANILA - International Container Terminal Services, Inc. (ICTSI) today reported its unaudited consolidated financial results for the first nine months of 2016, posting revenue from port operations of US$835.0 million, up 5% on the same period of last year; pre-tax earnings (EBITDA) of US$390.3 million, up 15%; and net income attributable to equity holders of US$141.9 million, up 4%. 

China reshaping work permit system for foreigners

November 1, 2016

BEIJING – China’s State Administration of Foreign Expert Affairs has announced that a new work permit system for foreign employees will be implemented on a nation-wide level from April 1, 2017. Lawyers Baker & McKenzie say the new system will divide foreign nationals into three categories according to academic background, professional qualifications and the nature of the assignment/employment in China.

Korea, US tighten alliance to counter North Korean threats

October 24, 2016

SEOUL – South Korea and the U.S. have agreed to establish an Extended Deterrence Strategy and Consultation Group (EDSCG) to better ensure the protection of Korea and U.S.allies from North Korean nuclear weapon and missile threats. The EDSCG will establish a dialogue between South Korea and the U.S. concerning "extended deterrence," which refers to a commitment to use nuclear weapons to deter attacks from North Korea, the official South Korean newsagency reports.

North Korean refugees “a test for unification” – President Park

October 24, 2016

SEOUL - North Korean refugees entering South Korea are a “trial-run, a test for eventual unification", President Park Geun-hye has told a Cabinet meeting. "When a North Korean refugee successfully finds their place in our society, it means they have found happiness for themselves and their family. This example can, in turn, offer hope to North Koreans oppressed by tyranny," she said.

WTO supports China complaints about US ‘dumping’ tariffs

October 22, 2016

BEIJING - The World Trade Organisation has sided with China in a key dispute with the U.S. over how Washington calculates anti-dumping duties it imposes on certain Chinese products. China's victory, announced Wednesday, settled a complaint that Beijing filed against the U.S. in 2013 over tariffs on imported Chinese goods, including high-pressure gas cylinders made of steel, and pipes manufactured for the oil industry.